The refi isn’t possible to do for 12 months because of regulations and that’s not going to work with the time frame I’m on. 

Also, many agents position themselves as PMs in order to create additional income, but in many states, PMs are not licensed or regulated, so it's likely that they have no idea how to be a PM, they don't have any processes in place and don't know how to manage tenants, owners, etc.

The last STR potential regulation had a residency requirement; the owner needed to be on-site for it to rent any significant amount of days.  2) I have horror stories. 

Instead of "owner-occupied multi-family investor" (OOMFI) since this is also used with SFHs and condos how about we call it "Mortgage Regulation Manipulation Investor" (MRMI). 

With that in mind I would give notice according to the regulations prior to their leases expiring.

Historic properties should be avoided due to the e extremely restrictive regulations that will drive up any renovation costs.

First check to be sure that your area does not require a license or other regulations to do so.

What kind of local regulations are there on short term rentals?

I would speak to someone familiar with your local lease laws/ regulations to make sure you hit all of the basics.

My question is,  are there rules, regulations, qualifications or RESTRICTIONS on using a line of credit on a commercial property to purchase other properties?